Nevada
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65-0782227
|
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(State
or other jurisdiction
of
incorporation)
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(IRS
Employer File Number)
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5910
South University Boulevard, C-18, Unit 165
Littleton,
Colorado
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80121-2800
|
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(Address
of principal executive offices)
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(zip
code)
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Large
accelerated filer
[]
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Accelerated
filer []
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Non-accelerated
filer [] (Do not check if a smaller reporting company)
|
Smaller
reporting company [X]
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PART
I FINANCIAL INFORMATION
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Page
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Item
1. Financial Statements for the period ended December
31, 2005
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|
Balance
Sheets
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5
|
Statements of
Operations (Unaudited)
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6
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Statements of
Cash Flows (Unaudited)
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7
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Notes
to Financial Statements
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9
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Item
2. Management’s Discussion and Analysis and Plan of
Operation
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12
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Item
3. Quantitative and Qualitative Disclosures About Market
Risk
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14
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Item
4. Controls and Procedures
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14
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Item
4T. Controls and Procedures
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14
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PART
II OTHER INFORMATION
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|
Item
1. Legal Proceedings
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14
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Item 1A. Risk Factors
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14
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Item
2. Unregistered Sales of Equity Securities and Use of
Proceeds
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17
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Item
3. Defaults Upon Senior Securities
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17
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Item
4. Submission of Matters to a Vote of Security Holders
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17
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Item
5. Other Information
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17
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Item
6. Exhibits
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18
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Signatures
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18
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Page
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|
FINANCIAL
STATEMENTS
|
|
Balance sheets
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5
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Statements of
operation
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6
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Statements of cash
flows
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7
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Notes to financial
statements
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9
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FRANCHISE
HOLDINGS INTERNATIONAL, INC.
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||||||||
(A
Development Stage Company)
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||||||||
BALANCE
SHEETS
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||||||||
Dec.
31,
2005
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||||||||
Sept.
30, 2005
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(Unaudited)
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|||||||
ASSETS
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||||||||
Total
Assets
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$ | - | $ | - | ||||
LIABILITIES
& STOCKHOLDERS' EQUITY
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||||||||
Current
liabilities
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||||||||
Accounts
payable
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$ | 70,884 | $ | 70,884 | ||||
Related
party payables
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10,520 | 11,465 | ||||||
Notes
payable
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271,759 | 271,759 | ||||||
Accrued
interest payable
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147,002 | 154,634 | ||||||
Stock
subscription payable
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18,000 | 18,000 | ||||||
Other
payables
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5,084 | 5,084 | ||||||
Total current
liabilties
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523,249 | 531,826 | ||||||
Total
Liabilities
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523,249 | 531,826 | ||||||
Stockholders'
Equity
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||||||||
Common
stock, $.0001 par value;
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||||||||
20,000,000
shares authorized;
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||||||||
2,840,864
shares issued and outstanding
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284 | 284 | ||||||
Stock
subscription receivable
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||||||||
Additional
paid in capital
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3,579,806 | 3,579,806 | ||||||
Accumulated
deficit (including $192,974 (2005)
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||||||||
and
$201,551 (2006) ) accumulated during
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||||||||
the
development stage)
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(4,103,339 | ) | (4,111,916 | ) | ||||
Total
Stockholders' Equity
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(523,249 | ) | (531,826 | ) | ||||
Total
Liabilities and Stockholders' Equity
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$ | - | $ | - |
FRANCHISE
HOLDINGS INTERNATIONAL, INC.
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||||||||||||
(A
Development Stage Company)
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||||||||||||
STATEMENTS
OF OPERATIONS
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||||||||||||
(Unaudited)
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||||||||||||
Period
From
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||||||||||||
Mar.
12, 2001
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||||||||||||
(Inception
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||||||||||||
Three
Months
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Three
Months
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of
Dev. Stage)
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||||||||||
Ended
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Ended
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To
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||||||||||
Dec.
31, 2004
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Dec.
31, 2005
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Dec.
31, 2005
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||||||||||
Revenues
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$ | - | $ | - | $ | - | ||||||
- | - | - | ||||||||||
Operating
expenses:
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||||||||||||
General
and administrative
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945 | 945 | 50,271 | |||||||||
945 | 945 | 50,271 | ||||||||||
Gain
(loss) from operations
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(945 | ) | (945 | ) | (50,271 | ) | ||||||
Other
income (expense):
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||||||||||||
Interest
expense
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(7,632 | ) | (7,632 | ) | (151,280 | ) | ||||||
(7,632 | ) | (7,632 | ) | (151,280 | ) | |||||||
Income
(loss) before
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||||||||||||
provision
for income taxes
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(8,577 | ) | (8,577 | ) | (201,551 | ) | ||||||
Provision
for income tax
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- | - | - | |||||||||
Net
income (loss)
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$ | (8,577 | ) | $ | (8,577 | ) | $ | (201,551 | ) | |||
Net
income (loss) per share
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||||||||||||
(Basic
and fully diluted)
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$ | (0.00 | ) | $ | (0.00 | ) | ||||||
Weighted
average number of
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||||||||||||
common
shares outstanding
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2,840,864 | 2,840,864 |
FRANCHISE
HOLDINGS INTERNATIONAL, INC.
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||||||||||||
(A
Development Stage Company)
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||||||||||||
STATEMENTS
OF CASH FLOWS
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||||||||||||
(Unaudited)
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||||||||||||
Period
From
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||||||||||||
Mar.
12, 2001
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||||||||||||
(Inception
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||||||||||||
Three
Months
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Three
Months
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of
Dev. Stage)
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||||||||||
Ended
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Ended
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To
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||||||||||
Dec.
31, 2004
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Dec.
31, 2005
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Dec.
31, 2005
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||||||||||
Cash
Flows From Operating Activities:
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||||||||||||
Net
income (loss)
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$ | (8,577 | ) | $ | (8,577 | ) | $ | (201,551 | ) | |||
Adjustments
to reconcile net loss to
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||||||||||||
net
cash provided by (used for)
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||||||||||||
operating
activities:
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||||||||||||
Amortization
& depreciation
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475 | |||||||||||
Loss
on fixed asset disposal
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1,408 | |||||||||||
Accounts
payable
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19,152 | |||||||||||
Related
party payables
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945 | 945 | 16,486 | |||||||||
Accrued
expenses
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7,632 | 7,632 | 151,280 | |||||||||
Compensatory
stock issuances
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2,750 | |||||||||||
Net cash provided by (used
for)
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||||||||||||
operating
activities
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- | - | (10,000 | ) | ||||||||
Cash
Flows From Investing Activities:
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||||||||||||
Net
cash provided by (used for)
|
||||||||||||
investing
activities
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- | - | - | |||||||||
(Continued
On Following Page)
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Period
From
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||||||||||||
Mar.
12, 2001
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||||||||||||
(Inception
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||||||||||||
Three
Months
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Three
Months
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of
Dev. Stage)
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||||||||||
Ended
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Ended
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To
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||||||||||
Dec.
31, 2004
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Dec.
31, 2005
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Dec.
31, 2005
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||||||||||
Cash
Flows From Financing Activities:
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||||||||||||
Notes
payable - borrowings
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10,000 | |||||||||||
Net cash provided by (used
for)
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||||||||||||
financing
activities
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- | - | 10,000 | |||||||||
Net
Increase (Decrease) In Cash
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- | - | - | |||||||||
Cash
At The Beginning Of The Period
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- | - | - | |||||||||
Cash
At The End Of The Period
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$ | - | $ | - | $ | - | ||||||
Schedule
Of Non-Cash Investing And Financing Activities
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||||||||||||
None | ||||||||||||
Supplemental
Disclosure
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||||||||||||
Cash
paid for interest
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$ | - | $ | - | ||||||||
Cash
paid for income taxes
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$ | - | $ | - |
l
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Lack
of capital for operations,
|
|
l
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Substantial
delays and expenses related to testing and development of new
products,
|
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l
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Development
and marketing problems encountered in connection with our new and existing
products,
|
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l
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Competition
from larger and more established companies, and
|
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l
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Lack
of market acceptance of our
products.
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l
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Actual
or anticipated fluctuations in our operating results;
|
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l
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changes
in financial estimates by securities analysts or our failure to perform in
line with such estimates;
|
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l
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changes
in market valuations of other mortgage brokerage companies, particularly
those that sell products similar to as ours;
|
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l
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announcements
by us or our competitors of significant innovations, acquisitions,
strategic partnerships, joint ventures or capital
commitments;
|
|
l
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introduction
of technologies or product enhancements that reduce the need for our
products; and
|
|
l
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departures
of key personnel.
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Exhibit
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Number
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Description
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3.1*
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Articles
of Incorporation
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3.2*
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Bylaws
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3.3*
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Articles
of Merger of TMAN Global.com, Inc. and FRANCHISE HOLDINGS INTERNATIONAL,
INC.
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31.1
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Certification
of CEO/CFO pursuant to Sec. 302
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32.1
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Certification
of CEO/CFO pursuant to Sec.
906
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Franchise
Holdings International, Inc.
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By:
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/s/
A.J. Boisdrenghien
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A.J.
Boisdrenghien , President and Chief Executive and Financial
Officer
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